TRONDHEIM, Norway, March 21, 2011 /PRNewswire/ -- APIM Therapeutics AS,
an early-stage Norwegian therapeutic company, is pursuing a novel drug
approach with the ability to potentiate the action of a wide range of
chemotherapeutic drugs currently used to treat several types of cancer. Based
on an original discovery by Prof. Marit Otterlei and co-inventors at NTNU
(Trondheim, Norway), APIM Therapeutics is currently developing proprietary
peptide drugs targeting PCNA (Proliferating Cell Nuclear Antigen), an
emerging cancer drug target implicated in the regulation of cellular
responses to DNA damage and stress. The company's lead drug candidate,
ATX-101, has shown promising preclinical anti-cancer activity in several in
vitro and in vivo models and is currently being developed as a novel
anti-cancer treatment targeting DNA repair and cell cycle control in tumor
cells.

The follow-up investment is provided by Sarsia Seed, an early stage
investment fund located in Bergen, Norway. This is the second seed investment
by Sarsia Seed to APIM Therapeutics to-date. APIM Therapeutic's current
shareholders include the inventors from the Dept. of Cancer Research and
Molecular Medicine at NTNU, NTNU Technology Transfer AS and Sarsia Seed.

Multiple myeloma is an incurable disease representing a constantly
growing cancer market expected to reach $5.3 billion by 2018 in the 7 major
markets (USA, France, Germany, Italy, Spain, UK and Japan). As current drugs
have limited therapeutic potential and are highly toxic, there is a
continuous need for more effective and less toxic therapies across all lines
of treatment. Similarly, and despite recent therapeutic advances and high
cure rates in some disease sub-groups, leukemia patients are still in the
need of safer and more effective treatments. Examples of underserved patient
groups include elderly patients particularly in acute myeloid leukemia,
chronic lymphocytic leukemia and chronic myeloid leukemia and patients with
certain genetic characteristics. Acute myeloid leukemia is the indication
with the highest number of drugs in clinical development of all leukemia
subtypes indicating a high unmet need in the treatment of this severe
indication.

Konstantinos Alevizopoulos, CEO of APIM Therapeutics:"We are delighted
that Sarsia Seed has provided this follow-up funding, which is a vote of
confidence in the company's results so far. The funding will allow us to
pursue further in vivo testing of the current lead compound aiming to
substantiate the application of this novel therapeutic concept within the
field of cancer."

Farzaad Abdi-Dezfuli, PhD, Partner at Sarsia Seed:"APIM Therapeutics
offers a unique co-drug approach that can improve the therapeutic window of
several chemotherapeutic agents. The method is expected to provide novel
therapeutic options and strong economic benefits to healthcare systems".